Paragraph 72 F1

United Kingdom

(1)

Before issuing a statement under paragraph 71(1) or (2), a UK regulator must—

(a)

publish a draft of the proposed statement in the way appearing to it to be best calculated to bring it to the attention of the public,

(b)

publish a notice stating that representations may be made to the UK regulator within the period specified in the notice, and

(c)

have regard to any representations made to it in accordance with the notice.

(2)

If the UK regulator issues the proposed statement, it must publish—

(a)

the statement, and

(b)

an account in general terms of—

(i)

the representations made to it in accordance with the notice, and

(ii)

its response to them.

(3)

If the statement issued differs from the draft published under sub-paragraph (1) in a way which, in the opinion of the UK regulator, is significant, the UK regulator must publish details of the differences (as well as complying with sub-paragraph (2)).

(4)

A UK regulator—

(a)

must give a copy of a statement issued under paragraph 71(1) or (2) to the Treasury before publishing it, and

(b)

may charge a reasonable fee for providing a person with a copy of such a statement or a draft statement published under this paragraph.

(5)

Anything published by a UK regulator under this paragraph must be published in the way appearing to the UK regulator to be best calculated to bring it to the attention of the public.

Annotations

Textual amendments

F1: Sch. 2A inserted (1.9.2023 for specified purposes) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 6 (as amended (1.1.2024) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 100(3)(b)); S.I. 2023/934, reg. 2(a)